New Delhi, Nov 20 (PTI) The Cabinet on Wednesday approved sale of government's stake in five blue-chip PSUs, including Bharat Petroleum Corp Ltd (BPCL), Shipping Corp of India (SCI) and Container Corp of India along with transfer of management control, Finance Minister Nirmala Sitharaman said.

The government will sell its 53.29 per cent stake in BPCL after taking out Numaligarh refinery from its portfolio, she told reporters here.

Besides, the government will sell its stake in THDC India and North Eastern Electric Power Corporation Ltd (NEEPCO) to state-owned NTPC Ltd, she said.

Finance Minister said the Cabinet has also approved cutting government's stake in select PSUs below 51 per cent while retaining management control.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)